John Eastman, the former dean of Orange County Law School who helped craft Donald Trump's legal strategy to retain power after losing his 2020 presidential bid, should be disbarred, a state Circuit Court judge ruled Wednesday.Judge Yvette Rowland's recommendation to revoke 63-year-old Eastman's license to practice law in California will go to the state Supreme Court, which has the authority to approve it.In a marathon trial that lasted from June to November, the State Bar, the agency that regulates lawyers, said Eastman was not qualified to practice law for spreading false claims that fraud cost Trump the election and for…
Author: ricardofrancois
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Donald Trump's Truth Social platform is riding a wave of enthusiasm from small investors, as a second day of gains pushed the loss-making social media group's valuation to more than $13 billion.Trump Media & Technology Group topped the leaderboard of the most discussed stocks on WallStreetBets, Reddit's popular stock trading forum, for several hours on Wednesday. On Tuesday, its first trading day after merging with a shell company, it outpaced much larger groups to rank among the top 15 most actively traded…
Robots made The stage debuted on New Year's Day in 1921. More than half a century before the world got its first look at George Lucas's robots, a small army of silvery humanoid robots took to the stages of the first Czechoslovak Republic. They were, for all intents and purposes, humanoids: two arms, two legs, a head—the whole shebang. Karel Čapek's play, RUR (Rossumovi Univerzální Roboti), was a great success. It has been translated into dozens of languages and played across Europe and North America. However, the lasting legacy of this work was its introduction of the word “robot.” The…
Employees work on a battery production line at Jiangsu Yongda Power Supply Co., Ltd. On March 26, 2024 in Suqian, Jiangsu Province, China.VCG | China Optical Group | Getty ImagesBEIJING – China's economy finished the first quarter of the year on a “strong” note, according to a business survey published by China Page Book on Thursday.“The economy clearly improved in March, thanks to improved industrial activity and strong retail spending,” said Shehzad Qazi, chief operating officer of China Beige Book, a US-based research firm.Chinese official data on retail sales, industrial production and fixed asset investment for January and February beat…
New York – US stocks rose to a record high on Wednesday after breaking out of a three-day lull.The Standard & Poor's 500 index rose 44.91 points, or 0.9%, to 5,248.49 points. This is the index's first gain since it recorded its highest level ever on Thursday.The Dow Jones Industrial Average jumped 477.75 points, or 1.2%, to 39,760.08 points, and the Nasdaq Composite Index rose 83.82 points, or 0.5%, to 16,399.52 points. They both finished a bit shy of their own records.Merck's stock rose 5% after federal regulators approved its treatment for adults with pulmonary arterial hypertension, a rare disease…
An Ozempic box and its contents lie on a table in Dudley, North Tyneside, Britain, October 31, 2023. Lee Smith | ReutersThe blockbuster diabetes drug Ozempic could be manufactured for less than $5 a month, if only that Novo Nordisk A study published Wednesday suggests that fees for injections in the United States amount to nearly $1,000 per month before insurance.The study, conducted by researchers at Yale University, King's College Hospital in London and the nonprofit Doctors Without Borders, raises more questions about the high price of the top-selling diabetes treatment and similar weight-loss drugs, which are all part of…
Hyundai CEO Jae-Hoon Chang (left) and Jose Muñoz, Hyundai's president and chief global operations officer, attend the 2024 New York International Auto ShowMichael Weiland | CNBCNew York -” Hyundai Motor Amazon is reevaluating its plans to produce all-electric vehicles exclusively at a new factory under construction in Georgia, an executive told CNBC on Wednesday.Jose Muñoz, Hyundai's president and chief operating officer of global operations, said the company is evaluating whether to produce hybrid or plug-in hybrid electric vehicles at the $7.59 billion plant as well as all-electric vehicles. a “We are now preparing to increase the production of electric cars…
Shipping companies have declared “force majeure” over the Port of Baltimore bridge crisis, telling US logistics companies and shipping companies including retailers that once goods are dropped off at alternative ports, it is their responsibility to pick them up.In an alert to customers on Tuesday, CMA CGM wrote, “Those (containers) on the water will be unloaded at an alternate port where they will be available for pickup, and CMA CGM’s bill of lading will be terminated.”It was the first trans-oceanic airline to declare force majeure – a clause in a contract that releases parties from obligation due to events beyond…
Check out the companies making headlines in midday trading. GameStop – GameStop stock fell 15% after the video game retailer reported lower fourth-quarter revenue compared to last year. The company also said it was cutting an unspecified number of roles to cut costs. Merck — Merck stock jumped 5% after the U.S. Food and Drug Administration on Tuesday approved its drug to treat a life-threatening lung condition. Carnival — Shares added 1%, reversing earlier losses after the cruise operator reported first-quarter revenue of $5.41 billion, below the $5.43 billion expected from analysts polled by LSEG, formerly known as Refinitiv. However,…
US Treasury Secretary Janet Yellen testifies during a hearing before the Subcommittee on Financial Services and General Government of the House Appropriations Committee at the Rayburn House Office Building on Capitol Hill on March 21, 2024 in Washington, DC. Alex Wong | Getty ImagesTreasury Secretary Janet Yellen warned Wednesday that China is treating the global economy as a dumping ground for cheap clean energy products, depressing market prices and squeezing green manufacturing in the United States.“I am concerned about the global ramifications of the excess capacity we are seeing in China,” Yellen said during a speech at the Soneva Solar…